The Graph Represents the 24-Hour Day of a Small-Business Owner

question 71

Multiple Choice

The graph represents the 24-hour day of a small-business owner.
-What fraction of the day is spent in free time and travel?

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Definitions:

Population Parameter

A numerical value that represents a characteristic of an entire population, such as its mean or standard deviation.

Standard Error

The standard deviation of the sampling distribution of a statistic, most commonly the mean; it is used to estimate the accuracy of a sample mean compared to the population mean.

Confidence Interval

A range of values, derived from sample statistics, that is believed to contain the true value of a population parameter with a certain level of confidence.

Mean

Refers to the arithmetic average of a dataset, computed as the sum of all the numerical values divided by the count of values in the dataset.